The Ho Chi Minh City-based company will experience “high
growth” this year as contracted day rates for its rigs has
risen 15 percent to an average of $155,000 per day, Phuong said.
Rig prices are expected to increase further as demand outstrips
supply, she said.

PetroVietnam Drilling climbed 1 percent to close at 50,000
dong on the Ho Chi Minh City Stock Exchange, the highest level
since June 2, 2011, after rising as much 6.1 percent earlier.
The stock has advanced 33 percent this year, outpacing the 25
percent advance in the benchmark VN Index.

The company will start operating two new hired rigs from
the third quarter, bringing the total operating rigs to nine,
Phuong said. PetroVietnam Drilling, partly owned by Deutsche
Bank AG, had earlier this year set a target of 1.36 trillion
dong for profit and 11.3 trillion dong for sales.

The oilfield services provider is a unit of Vietnam Oil &
Gas Group, known as PetroVietnam.